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Features

Enhanced Government-Assisted Loans

Loan assistance to improve business cashflow

SME Property Loan

Gear-up to 100% of property value

Hire Purchase / Property Loan Principal Deferment

Defer repayment until 31 Dec 2020

Details

Cashflow assistance for coronavirus affected companies to tide over this difficult period.

Enhanced Government-Assisted Loans


  • Enhanced EFS SME Working Capital Loan
    • For companies incorporated and operating in Singapore with at least 30% local shareholding,
    • Group annual sales revenue of not more than S$100 million or group employment size of not more than 200 workers and
    • Maximum Borrower Group revenue cap at S$500 million for all enterprises

  • Enhanced EFS Trade Loan
    • For companies incorporated and operating in Singapore with at least 30% local shareholding
    • Company's group annual sales not more than S$500 million

Enhanced SME Property Loan

  • For business entities incorporated in Singapore
  • Available to all commercial and light industrial properties located in Singapore

Hire Purchase / Property Loan Principal Deferment

  • For SMEs incorporated in Singapore
  • For borrowers with loan repayments that are no more than 90 days past due as at 6 Apr 2020
  • No need for borrowers to demonstrate specific impact from COVID-19 to obtain deferment
  • Extension of loan term by up to corresponding principal deferment period
  • Deferment period is until 31 Dec 2020
  • Principal deferment for Hire Purchase is subject to approval

For more information, please contact your Relationship Manager for property loan relief and for other reliefs, please call 6579 6777.

Property Loan Relief Illustration Table For Monthly Instalment, Additional Interest And Total Interest Payment

Assumptions:
  • Outstanding principal is S$300,000
  • Interest rate is 3% p.a.
  • Outstanding loan tenure of 180 months
  • Deferment of repayment for 9 months
  • There is no undrawn sum
  • Interest rate remains unchanged during the whole tenure of the loan

Current
(S$)
Property Loan Principal Deferment
(S$)
    Same Tenure
(180 months)
Extended Tenure
(189 months)
Monthly Instalment Payment 2,017.74 2,158.182 2,017.743
Additional Interest Payment N.A. 2,885.16 6,750.00
Total Interest Payment 72,914.09 75,799.25 79,664.09
Notes
  1. Above illustration is indicative only.
  2. Monthly instalment after deferment period is computed based on outstanding tenure.
  3. Monthly instalment after deferment period is computed based on outstanding tenure plus extended 9 months deferment period.

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